Michael Cruz works 45 hours at a bakery, earning $12.50 per hour. Michael is entitled to overtime pay for all hours worked inexcess of 40 hours at 1.50 times his regular hourly rate. Calculate Michael's weekly pay. Give the answer to two decimal places.a. $568.75b. $562.50c. $593.75d. $703.75

The objective of the question is to calculate Michael's weekly pay, taking into account his regular…

Answered: Michael Cruz works 45 hours at a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Michael Cruz works 45 hours at a bakery, earning $12.50 per hour. Michael is entitled to overtime pay for all hours worked in excess of 40 hours at 1.50 times his regular hourly rate. Calculate Michael's weekly pay. Give the answer to two decimal places. a. $568.75 b. $562.50 c. $593.75 d. $703.75